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Started By
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re: China is top foreign buyer of US housing at $6.1 billion last year
Posted on 7/21/22 at 2:15 pm to Turner River Terror
Posted on 7/21/22 at 2:15 pm to Turner River Terror
You guys need to watch American Factory | Netflix
In this documentary, hopes soar when a Chinese company reopens a shuttered factory in Ohio. But a culture clash threatens to shatter an American dream.
In this documentary, hopes soar when a Chinese company reopens a shuttered factory in Ohio. But a culture clash threatens to shatter an American dream.
0
Posted on 7/21/22 at 2:56 pm to slackster
quote:
A) Average price was over $1 million, so I don’t believe anyone is renting these.
Not so sure about this, multi units in one, like a lot of nola is.
Posted on 7/21/22 at 3:00 pm to goofball
It's for citizenship. That's the sole reason Wealthy Chinese people are buying.
The price tag is 500k.
The price tag is 500k.
Posted on 7/21/22 at 3:04 pm to SoonerK
quote:
Chinese entities owns 290K acres of farmland in the U.S. out of about 900 million acres. They hold a very small amount of U.S. farmland.
It depends on what they are buying because only around 80 million of those acres are for food we actually eat.
And then you have to think what Americans are buying up farm land. Oh yeah, Bill Gates and Ted Turner.
Posted on 7/21/22 at 3:23 pm to MikeD
quote:
Let’s make some laws limiting rental maximum for non citizen owners to certain percentage of the purchase price to make this an unattractive investment.
Dat not fwee entpwise!
Posted on 7/21/22 at 3:33 pm to Chad504boy
quote:
Now what? China gets insurants? Who live in China house? People pay rent to china? Please make check to China with a I please.
They don’t trust Chinese banks so they buy American property
Posted on 7/21/22 at 4:13 pm to Malik Agar
Wait until you hear about Saskatchewan.
Posted on 7/21/22 at 4:25 pm to Chad504boy
It's how rich Chinese store their wealth.
Look at the tanks guarding banks shite happening to see why.
Look at the tanks guarding banks shite happening to see why.
Posted on 7/21/22 at 5:39 pm to BigPerm30
They aren’t dumb, they are calculated thieves stealing our financial futures
Posted on 7/21/22 at 6:58 pm to goofball
At least they cannot take it with them.
This post was edited on 7/21/22 at 6:59 pm
Posted on 7/21/22 at 7:03 pm to Mitlands
quote:
Wait until you hear about Saskatchewan.
In 1881?
Posted on 7/21/22 at 7:15 pm to goofball
There is a huge misunderstanding about what's going on right now.
Chinese people have been trying to leave China for close to a decade now. The Chinese yuan is not a convertible currency. China is the most closed capital account in the world. You can't take very large sums of money out of the country. The former CEO of Huarong was executed in 2018, not because of "corruption", but because they caught him trying to leave the country with literal palettes of cash. Housing is one of the few ways many can get money out into longer term assets.
You may not have seen it in the news, but the largest and most important asset market in the entire world, Chinese property, is in the midst of a self imposed depression. >90% of all non-major SOE developer bonds are trading at deep distressed prices. That was the easiest way for the Chinese to store their wealth, and its gone now. And the government did this on purpose.
The Xi government is moving farther away from market reforms and what Chinese citizens want. They killed the education/tutor sector, then undermined big tech (Baba, Tencent, etc.) and then property. All because of a reorientation to "common prosperity". Chinese are trying to leave in droves (they can't and they can't take their money with them), and for the first time in years Xi is getting political pushback before the 20th party Congress this fall. My colleagues and friends over there have said, very bluntly, that sentiment is the worst they've ever seen.
This has nothing to do with a government plan to buy up US housing. In fact the government hates it. These are just the Chinese people that were lucky/rich enough to get money through Hong Kong and buy here. They're closer to "billionaire refugees" then they are spies.
Chinese people have been trying to leave China for close to a decade now. The Chinese yuan is not a convertible currency. China is the most closed capital account in the world. You can't take very large sums of money out of the country. The former CEO of Huarong was executed in 2018, not because of "corruption", but because they caught him trying to leave the country with literal palettes of cash. Housing is one of the few ways many can get money out into longer term assets.
You may not have seen it in the news, but the largest and most important asset market in the entire world, Chinese property, is in the midst of a self imposed depression. >90% of all non-major SOE developer bonds are trading at deep distressed prices. That was the easiest way for the Chinese to store their wealth, and its gone now. And the government did this on purpose.
The Xi government is moving farther away from market reforms and what Chinese citizens want. They killed the education/tutor sector, then undermined big tech (Baba, Tencent, etc.) and then property. All because of a reorientation to "common prosperity". Chinese are trying to leave in droves (they can't and they can't take their money with them), and for the first time in years Xi is getting political pushback before the 20th party Congress this fall. My colleagues and friends over there have said, very bluntly, that sentiment is the worst they've ever seen.
This has nothing to do with a government plan to buy up US housing. In fact the government hates it. These are just the Chinese people that were lucky/rich enough to get money through Hong Kong and buy here. They're closer to "billionaire refugees" then they are spies.
Posted on 7/21/22 at 7:17 pm to BigPerm30
quote:
Instead, we just send free money all over the world. Our government is so fricking dumb.
Truth. But what’s worse is that there are MILLIONS of people in this country that trust these people that run the government. People that actually believe that these people are doing a good job.
Posted on 7/21/22 at 7:48 pm to goofball
We need to put a chink in their armor.
This post was edited on 7/21/22 at 7:49 pm
Posted on 7/21/22 at 8:57 pm to goofball
Am I off here?
$6,100,000,000 total spent
$1,000,000 average home cost
Throw in a little division and that comes to
6,100 houses.
Per the Google machine there were 6,100,000 housing transactions in 2021. So, 1/10th of 1%.
$6,100,000,000 total spent
$1,000,000 average home cost
Throw in a little division and that comes to
6,100 houses.
Per the Google machine there were 6,100,000 housing transactions in 2021. So, 1/10th of 1%.
Posted on 7/21/22 at 8:58 pm to chinhoyang
quote:
foreigners should not be able to buy farms, ranches, etc.
Why?
I own land and a home in the UK, should that be illegal as well?
Progressives and your constant need for new restrictive laws is our problem not Chinese buying vacation homes.
Posted on 7/21/22 at 9:15 pm to kciDAtaE
quote:
Isn’t foreign investment good for the economy?
"The economy" is this vague, nebulous concept that really means hedge funds and banks get richer while everyone else gets poorer. That's what it means when they say "it's good for the economy."
Posted on 7/21/22 at 9:18 pm to goofball
My one singular brokerage located in Middle TN did almost 5 billion in 2021. This is pretty insignificant to the entire US housing market.
But still, frick Chyna
But still, frick Chyna
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